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Economics for substantive democracy

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  • Manuel Couret Branco

Abstract

In this paper, I sustain that the discourse of economics has become one of the most substantial contributors to the erosion of the democratic ideal. The first argument used in this case against economics concerns its attempt to be considered a neo-naturalistic science; the second, the fact that economics considers democracy contradictory to the expression of its scientific rationality and; the third, the fact that economics crowds out people from decision-making processes by pushing them into the hands of experts. Because partisan political programmes have essentially become economic programmes, economics should contribute to substantive democracy. In order to do so, an alternative discourse to mainstream economics must be proposed. An economics favourable to substantive democracy should, thereby, be political rather than naturalistic, pluralist rather than monist and, instead of crowding out people from decisions processes, should aim at the co-production of economic knowledge with those concerned by the outcome of economic decisions.

Suggested Citation

  • Manuel Couret Branco, 2016. "Economics for substantive democracy," Review of Social Economy, Taylor & Francis Journals, vol. 74(4), pages 369-389, October.
    • Handle: RePEc:taf:rsocec:v:74:y:2016:i:4:p:369-389
    DOI: 10.1080/00346764.2016.1171382
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    1. Ricardo, David, 1821. "On the Principles of Political Economy and Taxation," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, edition 3, number ricardo1821.
    2. Wagner, Alfred, 1891. "Marshall's Principles of Economics," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 5, pages 319-338.
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    More about this item

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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